Data and content management revenue set for long-term APAC growth
- 20 November, 2020 08:05
The rise in demand of enterprises needing to organise, categorise and structure content is forecast to drive data and content management revenue in Asia Pacific through to 2024.
This is expected to push revenue up at a compound annual growth rate (CAGR) of 1.8 per cent over the 2019-2024 period, according to research firm GlobalData.
The major forces behind this growth forecast in the region are predicted to be China and Japan, which together will account for a collective 59 per cent share of the growth, the research firm claimed.
At a sector level, the manufacturing industry is expected to see the highest growth rate in the data and content management market, followed by energy. This is due to data and content management solutions offering these verticals various benefits, GlobalData stated, such as the extended life of content for a regulatory purpose, location centralisation, quick access for content and efficient management and publication of content.
“Enterprises are inclined to SaaS [software-as-a-service]-based data and content management as they exhibit the potential to provide flexibility, cost-effectiveness and are easy to manage,” said Siddharth Tiwari, technology analyst at GlobalData.
“Cloud-based offerings are assisting organisations with the capabilities of the minimum hardware requirements by optimal and shared utilisation. The large presence of SMEs across APAC augments the adoption of relatively low-cost cloud-based data and content management solutions for different business needs.”
Growth in web and mobile generated content — through sources such as blogs and social media platforms — has translated to the growth of both structured and unstructured content, the research firm claimed.
In turn, this has then led to the growing adoption of data and content management solutions by enterprises — particularly large enterprises, as they typically have large amount of data in their repositories.
“Enterprises are considering improving their data and content management, increasing the ease-of-use and accessibility of their solutions by implementing cloud deployment, which would also provide the additional benefits of lower costs and less maintenance,” Tiwari said.
“New developments related to data and content management bring an exciting new realm of possibilities as enterprises are looking to automate and modernise the workplace and empower next-gen workforce.
"Furthermore, increasing adoption of cloud analytics and growing inclination toward data integration would further increase the adoption of data and content management solutions in the coming years."